Stories

South Carolina Community Loan Fund

  • Taking down the Confederate flag is only the first step

    It’s time to address racism and inequality in the South.

    The Mary Reynolds Babcock Foundation applauds the South Carolina legislature’s decision to remove the Confederate flag from the capitol grounds. The hate crime in Charleston focused the national spotlight on racism in the South; it also forced Southerners to consider the ways we commemorate history and how our symbols are perceived....

  • Preserving the Social Fabric: Southern CDFIs

    A new survey is shining a harsh spotlight on the urgent need for non-predatory financial services in the South. A recent Gallup poll found minority-owned businesses face tougher challenges obtaining loans. The study, commissioned by Wells Fargo, found that 77 percent of black business owners use their own personal cash to finance their businesses, and 47 percent of black-owned businesses are...

    Ines Polonius
  • Investing in the American Dream

    Speaking on the panel, "Social Investing: So What is a CDFI and Why Are They Important to Communities?" at the Southeastern Council of Foundation 's Annual Meeting, Grace Fricks, CEO of ACE Loans told the audience, "The American Dream isn't possible for any of us if it's not possible for low-income people."
    Community Development Financial Institutions (CDFIs) like...